The many benefits of tax process automation

By: John Pavlakis

In an increasingly complex business world, the benefits of tax process automation have been known for some time. Automating a tax process increases accuracy and compliance, makes it more efficient, allows for greater collaboration, improves transparency, mitigates undue burdens on personnel, frees up time for greater data analysis, and allows for a more sustainable tax platform.

CAMRA, a premier insurance investment accounting solution from SS&C, offers tax process automation that helps tax functions relieve cost pressures and enables the ability to do more with less. Tax process automation connects tax functions with broader business strategies and financial transformation initiatives. This provides more aligned planning, budgeting, forecasting, reporting, and analytical solutions across an entire business.

It also mitigates data and process inefficiencies and helps external stakeholders by providing enhanced data integrity, timeliness, and transparency.

With CAMRA, tax process automation is available no matter where you are in the process automation cycle. For example:

  • CAMRA users not yet using the tax basis can reap immediate benefits by initializing it
  • CAMRA tax basis users running our Crystal or Rex reporting package can achieve significant efficiencies by easily transitioning to the new SSRS tax reporting suite
  • Users who have already transitioned to the new tax reporting suite can now use the new STAT to Tax reconciliation reporting tool

Wherever you are in the tax process automation cycle, CAMRA can help make your tax function better, faster, more reliable, and more sustainable.

To learn more about CAMRA and tax process automation, read “Benefits of Tax Process Automation: Initializing the CAMRA Tax Basis”, the second in our four-part series.

To learn more about upgrading your current tax operations and how automation can help reduce risk, email John Pavlakis at jpavlakis@sscinc.com or call on 860-298-4596.